Grocery prices remain one of the biggest contributing factors to high inflation in Canada.

The Canadian Statistics Agency released the Consumer Price Index (CPI) report for June, which showed that the inflation rate reached 2.8 percent year-on-year, following a 3.4 percent increase in May 2023.

The agency also indicated that gasoline contributed to a slowdown in overall inflation.

While this decrease is positive, Canadians continued to see rising grocery prices (up 9.1 percent) and mortgage interest costs (30.1 percent).

Fruits and Vegetables:

The price of fruit in June rose faster than it did in May, according to the Consumer Price Index. This was largely driven by the price of grapes, which increased by 30 percent from May to June.

The price of oranges also increased by 2.3 percent between May and June, resulting in an annual price increase of 16.5 percent.

The cost of potatoes rose by 4.8 percent in June compared to May, and by 9.3 percent compared to last year.

Banana prices also saw a slight increase of 0.5 percent between May and June, representing an annual increase of 0.7 percent.

The price of tomatoes fell by 5.4 percent between May and June, and by 12.6 percent from last year. Conversely, lettuce prices dropped by 8.7 percent between May and June, and by 6 percent year-on-year.

Rice and Flour:

The price of rice increased by 1.4 percent from May to June, and by 9.6 percent compared to last year.

Breakfast cereal prices rose by 1.3 percent between May and June, and by 14.8 percent year-on-year.

Flour-based products continued to rise in June, with an annual increase of 9.8 percent and a slight increase of 0.7 percent from May.

On the other hand, Canadians saw a decline in pasta product prices, with a decrease of 6.3 percent compared to May.

Dairy, Restaurants, and Meats:

The Statistics Agency blamed meat as a contributor to the continued rise in grocery prices in June. Fresh and frozen beef led the increase, with costs rising by 2.1 percent in June compared to May, and by 9.4 percent year-on-year.

The cost of fish, both fresh and frozen, also increased year-on-year by 4.8 percent, and by 1.1 percent from May to June.

Between May and June, the price of poultry decreased by 0.6 percent, but still represents an increase of 8.1 percent from last year.

The price of butter also saw a slight decline between May and June of 0.6 percent, with an annual inflation rate of 8.2 percent.

The price of cheese rose by 5 percent compared to June 2022, but fell by 0.5 percent from May.

Egg prices also experienced a slight increase (0.2 percent) between May and June.

Restaurant food prices rose by 0.3 percent from May, and by 6.6 percent year-on-year.